Dubai’s mirage: the city might be heaven, but not for crypto entrepreneurs | Opinion
Disclosure: The views and opinions expressed here belong solely to the author and do not represent the views and opinions of crypto .news’ editorial. Dubai’s crypto industry has been in the spotlight, both in the media and among entrepreneurs: “Emirates announced that it would start accepting Bitcoin as a payment method,” “UAE government strives to fully transition its operations to blockchain by 2030,” “Binance’s CZ moves to Dubai, states that Paris and Dubai offices are Binance global hubs.” You might also like: MENA’s crypto market flourishes amid challenges of Shariah compliance | Opinion The 2020-2021 Bitcoin (BTC) boom, startup financing spree, and the tax haven fame made the city a synonym for everything crypto -related. Think crypto , say Dubai—a sentiment echoed by PwC’s reports of UAE’s crypto transaction volume growing fivefold between 2020 and 2021, showing an annual $25 billion turnover in 2022. Today, the region hosts a plethora of t...